Former NSA chief raises $78 million for critical infrastructure cyber security start-up

Keith Alexander hopes latest round will help take his security start-up global

Former US National Security Agency chief Keith Alexander has raised $78 million of investment for his tech start-up IronNet Cyber Security.

The series B investment was backed by British investment firm C5 Capital, along with existing investors ForgePoint Capital and Kleiner Perkins.

The Fulton, Maryland-based company, which develops a range of network-based cyber security solutions, said it will use the money to accelerate the development of its products.

Its main product is IronDome, which is described as a collective defence system that provides critical infrastructure organisations with automated threat detection.

As part of the investment, IronNet confirmed it is working on plans to create additional versions of the platform for the financial and healthcare sectors.

Over the next few months, the firm will also implement an ambitious expansion strategy. It wants to "expand internationally in key areas on the front lines of the cyber threat", including Europe, Asia and the Middle East.

IronNet claims that its expansion effort will help it to "address and reduce risk related to the very real threats these sectors and countries face from highly capable adversaries".

Having led the NSA in 2005 and 2006, IronNet CEO and chairman Keith Alexander claimed that he is now on a mission to protect nations and industries from cyber attacks.

He leads a team of 150 people, many of whom have previously served in the US army or intelligence agencies.

"This investment represents a clear endorsement of our core technology and strategy for defending nations and industries around the world," he said.

"We look forward to working closely with our new investors joining us in this funding round to continue to rapidly innovate and expand our efforts in this critically important national security arena."

Marcos Battisti, managing partner of C5 Capital, said: "It is apparent to all of us that the threats enterprises face will continue to evolve in a way that traditional solutions are not able to cope.

"IronNet's platform is the only scalable solution in the market providing a truly holistic protection to today's constant and ever-changing attacks."

Don Dixon, founder and managing director of ForgePoint Capital, said the investment from C5 Labs will allow the firm to establish a presence in Europe.

"We welcome C5 Capital to the investor group. C5, based in London, brings strong relationships to help the company grow in Europe and the Middle East," he said.